Despite ongoing fears of recession and reduced consumer discretionary spending, the Nevada gaming industry recently concluded its best February ever, notching a new monthly record of $1.23 billion in statewide revenue, per the Nevada Gaming Control Board (NGCB).
The figure was an increase of 11 percent year-over-year from last February, and it represents the 24th straight month that the Silver State has posted more than $1 billion.
As expected, most of that money came from the Las Vegas Strip, which raked in $712.4 million in revenue, a 19 percent jump year-over-year. Downtown Las Vegas chipped in $74.3 million, and Clark County as a whole reported $1.08 billion.
Perhaps the biggest reason for February’s bonanza was the eye-popping traffic from Harry Reid International Airport, which, not to be outdone, also experienced its best February ever.
The airport reported that a total of 4.17 million passengers came through its doors last month, shattering the previous all-time record of 3.86 million set in February 2020, the last pre-pandemic sample. International travel, which has long been considered to be the last remaining sector still impacted by Covid, doubled year-over-year from 100,000 to 203,000.
With regard to specific offerings, Nevada posted $414.5 million in statewide card, counter and table games win, an increase of 18.8 percent from the same period last year. Conversely, game drop decreased 0.7 percent.
Slot win came in at $822.8 million, $390.4 million of which came from the Strip. That represented increases of 7.6 percent and 16 percent, respectively.
Baccarat had an exceptional month, jumping more than 60 percent year-over-year to post a total win of $102.5 million. Statewide hold percentage jumped from 10.7 percent to 14.7 percent.
As far as sports betting is concerned, the state’s bookmakers took in $41.3 million, 33.5 percent more than February 2022, with a 6.26 hold percentage—last year’s was 3.96. Total handle came in at $659.4 million, which was actually a 15.6 percent drop year-over-year.
For Washoe County to the north, its revenue figure of $83.5 million was an 8 percent decrease from last year, but this was largely due to severe late-season weather conditions. The Sparks market, though, posted a 4.9 increase thanks to the opening of a new venue, Legends Bay Casino.
